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Elque Polyesters Ltd has informed BSE that the members at the 17th Annual General Meeting (AGM) of the Company held on March 29, 2008, inter alia, have accorded the following:

1. Adoption of the Balance Sheet of the Company as at September 30, 2007, the Profit & Loss Account of the Company for the period ended on that date together with the Reports of the Auditors and Directors thereon.

2. Re-appointment of Mr. Umasankar Chattopadhyay, as a Director of the Company.

3. Appointment of M/s. Mookherjee P K & Co., Chartered Accountants, as Statutory Auditors of the Company to hold office from the conclusion of the 17th Annual General Meeting until the conclusion of the 18th Annual General Meeting of the Company, on remuneration, terms & conditions.

Elque Polyesters Ltd has informed BSE that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:

“1. Non?provision of interest and other dues to various banks and financial institutions, quantum of which is un-ascertainable.

2. Pursuant to the revival package under consideration by BIFR and other banks and financial institutions the Auditors reserve their comments on the Going concern concept adopted by the Company.

3. The plant has been temporarily shut down for the time being due to uneconomic market condition.”